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1) What does this mean in practice?

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5) And we think that the margin model is safe and conservative: real time risk engines mean you neither have to preemptively liquidate days early, nor risk positions going underwater for days. ftxpolicy.com/ftx-guaranty-f

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SBF

@SBF_FTX

May 12

2) Well, over the last week, we've seen a 40% market move. In the past *day*, more than $50b has traded on FTX. How has the risk engine performed?

SBF

@SBF_FTX

May 12

3) It's been operational the whole time, 24/7. It requires about 10% of the initial margin as current US futures exchanges do. (FTX US Derivatives would be more conservative.) Have there been any mutualized losses? Fuck no.

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Sam, last night the site was working completely functional and I was trying to close a position for 10-15 mins and it kept saying “ order submitted “ but my position was not closing when I was pressing market close, which caused me devastating losses,

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and

I feel as though there was a unique site issue in that moment as I have traded on FTX for a few years and I’ve seen how it functions during Melt downs and it never says “ order submitted “ i feel like there was an actual issue, and it caused me large damage.

SBF

@SBF_FTX

Replying to

@LeverageOn

have you submitted a support ticket?

11:45 AM · May 12, 2022Twitter Web App

Replying to

Yes I have this morning but I felt like any chance of help from you would be better than a random agent, obviously didn’t really expect to get a response. I pressed the market close button 15 times and everytime “order submitted “ refresh page, trade still open. Def unusual

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and

Given that the orders for a market order being submitted should be going through at any price, and if being submitted it just doesn’t make sense, it caused me catastrophic losses, any potential help would be greatly appreciated Sam. Lost almost everything I worked for past 2yr.

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